The US contract research organization Quintiles has announced its merger with IMS Health, a US information and technology services company for the healthcare industry.

The combined company will be known as Quintiles IMS, bringing together Quintiles’ industry-leading product development skills with IMS Health’s rich, global information solutions. It will have a market capitalization of over $17 billion and employ 50,000 people in more than 100 countries; in 2015, the two companies had a joint revenue of $7.2 billion.

“This combination addresses life-science companies’ most pressing needs: to transform the clinical development of innovative medicines, demonstrate the value of these medicines in the real world, and drive commercial success,” said Tom Pike, Quintiles’ chief executive officer. “We are bringing together two best-in-class leaders. I’m confident that together we will make our clients even more successful.”

The combined company expects to maintain dual headquarters in Danbury, Connecticut, and Research Triangle Park, North Carolina. Bousbib will become chairman and chief executive officer of the merged company, with Pike becoming vice chairman. The companies expect the merger to be finalized by the second half of 2016.